What documents might lenders request after the initial enquiry?
Quick answer
After an initial enquiry lenders and brokers will typically ask for identity and business verification, recent financial records, evidence of trading and contracts, details of assets and security, and sometimes specialist or sector-specific documents.
Providing a clear, organised set of documents speeds up Decision in Principle (DIP) checks and increases your chances of receiving accurate offers quickly.
Identity, business formation and legal documentation
Lenders must verify who you are and the legal status of your business before progressing an application. Typical requests include passports or driving licences for directors, proof of address for key people, and recent utility bills.
For companies, expect to supply your Certificate of Incorporation, memorandum and articles of association, Companies House filings (including recent appointments and PSC register), and evidence of authorised signatories.
If you’re VAT-registered, provide your VAT registration number and recent VAT returns, and if applicable your Unique Taxpayer Reference (UTR) and HMRC correspondence.
Checklist (identity & legal)
Director ID (passport/driver’s licence), proof of address, Company House printouts, PSC details, VAT number, UTR and proof of authorised signatories.
Financial accounts, management information and cash flow
Almost every lender will ask for financial records to assess affordability and risk. Commonly requested items are up-to-date management accounts, statutory accounts, profit & loss and balance sheets.
Expect to provide the last 6–12 months of business bank statements, recent VAT returns and the last two to three years’ statutory accounts where available.
Many lenders also request a cash flow forecast or three- to twelve‑month cash flow projection, especially for working capital or growth facilities. These documents show how you expect to service new debt.
Checklist (financials)
Management accounts, statutory accounts, bank statements (6–12 months), VAT returns, tax returns, and a short cash flow forecast.
Security, assets and valuation paperwork
If the finance requires security, lenders need evidence of the assets being offered and their value. This can include fixed asset schedules, invoices, purchase agreements, or recent valuations.
For vehicle and fleet finance supply V5C logbooks, hire purchase agreements or leasing schedules and recent service history if requested. For equipment or machinery provide invoices, maintenance records and a valuation or supplier quote.
Where a lender asks for a charge against property or other real estate, they will request title deeds, existing mortgage details, rent roll (if leased), and possibly a commercial valuation or EPC certificate.
Checklist (security & assets)
Asset invoices, valuations, V5C documents, equipment schedules, title deeds, property valuation and EPC where relevant.
Trading evidence, contracts and receivables
Lenders want to understand the strength and predictability of your income stream, so they commonly request trading evidence. Useful documents include recent sales invoices, customer ledgers and aged debtor reports.
Supply copies of key customer contracts, purchase orders and evidence of recurring revenues or long‑term agreements. This is especially important for invoice finance, facility refinancing and term loans where repayment depends on ongoing turnover.
For industries with seasonal cycles or variable revenue, provide month-by-month trading reports and an explanation of seasonal peaks and troughs to help underwriters model cash flow.
Checklist (trading evidence)
Sales invoices, aged debtors report, major customer contracts, purchase orders, recurring revenue schedules, and recent sales pipeline data.
Specialist, regulatory and lender-specific requirements + next steps
Certain industries or lenders will ask for specialist documents such as licences, permits, environmental reports or compliance certificates. Prepare sector-specific paperwork ahead of time.
Examples include CQC registration for care homes, waste carrier licences for waste management firms, health and safety records for construction contractors, and energy performance or environmental permits for renewables projects.
Some lenders also request additional checks like personal and business credit reports, bank reference letters, or director guarantor forms. Being ready for these reduces delays in a Decision in Principle.
Checklist (specialist & lender-specific)
Sector licences, compliance certificates, environmental reports, proof of insurance, personal guarantees and recent credit reports if requested.
How to organise documents to speed up a Quick Quote or Decision in Principle
Arrange files in a clear folder structure using descriptive file names (for example “2024-02_BankStatement_Lloyds.pdf”). This makes it easier for introducers and lenders to find what they need.
Create a one‑page summary covering your funding need, amount requested, loan purpose and proposed security to accompany the paperwork. This short summary helps brokers and lenders decide quickly whether to progress.
Where possible provide scanned PDFs rather than photos, and ensure documents are legible. Digital readiness shortens underwriting times and helps secure quicker provisional offers.
What lenders do with your documents and what to expect next
After submission lenders perform identity and affordability checks, verify trading performance and assess security and sector risk. Underwriters may request clarifications or follow-ups where figures or contracts do not align.
If a Decision in Principle is possible, you will be issued an eligibility statement or DIP subject to the usual checks and documentation. Final offers typically follow further due diligence, valuation and legal checks.
Remember that processes and exact document lists vary by lender and product, so expect bespoke requests even after you have supplied standard paperwork.
Why working with a broker or introducer like Best Business Loans helps
We don’t provide loans ourselves; our role is to match your business with relevant lenders and brokers who are actively lending to your sector. Providing a prepared document pack speeds up matching and improves the quality of responses.
Our AI matching helps identify providers likely to accept your profile so you spend less time sending documents to unsuitable lenders. We’ll also flag common gaps that often slow applications.
Start with our Quick Quote to get a focused eligibility check and guidance on the specific documents lenders are likely to need for your enquiry. You can submit your details quickly for a Decision in Principle or eligibility review.
Explore business finance options and start your Quick Quote
Compliance and clarity — important notes
Best Business Loans operates as an independent introducer and does not offer credit, lend money or provide regulated advice. We connect UK businesses to suitable lenders and brokers.
All finance offers are subject to lender terms, underwriting and checks, and may require additional information beyond the documents listed here. We aim to be clear, fair and not misleading in line with FCA and advertising rules.
Key takeaways
Lenders typically request identity and company documents, management accounts and bank statements, evidence of trading and contracts, and asset or security paperwork.
Sector-specific licences, valuations, and personal guarantees may also be needed depending on the product and industry. Organise documents, prepare a short funding summary and use our Quick Quote to speed up the Decision in Principle process.
Ready to get started? Submit a Quick Quote to check eligibility and see which lenders are most likely to progress your enquiry.
About Best Business Loans
Best Business Loans helps UK SMEs find relevant business finance by matching their profile to lenders and brokers using AI and market experience. We act as an introducer only and do not provide loans or regulated financial advice.
For help preparing documents or for further guidance contact our support team at hello@bestbusinessloans.ai or start your Quick Quote on the site.